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The Wire Feb. 18, 2021
Bridgepoint grows Qualitest, Webster’s Bristol Hospice kicks off sales process, Apollo adds Jay Clayton to board Morning
Just a quick note of appreciation to the PE community for coming out strong for our women in private equity project, which will run in March. We have a great one this year (I think our best effort yet), and that’s all due to you all coming out and helping us with recommendations of rock star women to include in our 10 profiles, and offering up insight as sources for our ongoing coverage of diversity in PE.
Also (!), we got a ton of Deal of the Year awards submissions, as usual, right at the wire. Thanks for that as well. Right now, the PE Hub and Buyouts teams are sequestering, virtually, and vetting the mountain of candidates to find out which exits stood out last year. We’ll make our decisions by early next week and start the process of getting in touch with winners. Everything gets revealed in April.
Read the full wire commentary on PE Hub.
That’s it for today! Hit me up with feedback, tips n’ gossip or whatever at [email protected] or find me on LinkedIn.
Also of note (may require subscriptions)
Transparency: ILPA wants the SEC to set minimum standards for several issues in private equity, including that GPs share regulatory examination findings with limited partners who request the information. Specifically, ILPA wants GPs to share deficiency letters with LPs that ask for it. Read it here on Buyouts.
Royalty: Sagard Holdings, the private investment arm of Power Corp, closed fundraising on its debut healthcare royalty fund with $725 million. Fundraising was not impaired by the pandemic, in part because investors were enamored with the royalties strategy. Read it here.
Big one: Ares Management raised 9.47 billion euros for its fifth European fund, with commitments from Maine’s public pension system, Cathay Life Insurance and Taiwan Life Insurance. Check it out here.
PE Deals
They said it “We went into the pandemic with our portfolio in pretty good shape. That allowed us to play offense while many other firms were playing defense. We had a very active year; we invested $850 million of capital in four new investments and 17 follow-on investments across our funds.” Brian Cassidy, co-president of Crestview Partners, on how the firm is navigating the markets.
Today's letter was prepared by Chris Witkowsky Subscribe now to get full, unlimited access to all PE Hub content, including every PE Hub Wire article. FIND OUT MOREPlease visit Buyouts for the latest insight into LP activity and Venture Capital Journal for comprehensive coverage and analysis of what’s happening in VC.
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